Report : Asia Pacific Occupational Health Market Forecast to 2030 - Regional Analysis - By Offering (Product, Solution, and Service), Category (Safety, Chemicals, Biological, Physical & Environmental, Ergonomics, Vaccination & immunizations, and Others), Employee Type (Remote, Hybrid, and Physical Presence), Site Location (On-Site, Off-Site, and Shared-Site), Type (Physical Wellbeing and Social & Mental Wellbeing), and Industries [Automobile, Chemical, Engineering, Government (including Federal), Manufacturing, Mining, Oil & Gas, Pharmaceutical, Ports, and Others]
At 4.7% CAGR, Asia Pacific Occupational Health Market is Projected to be Worth US$ 772.05 Million by 2030, Says Business Market Insights
According to Business Market Insights' research, the Asia Pacific occupational health market was valued at US$ 534.62 million in 2022 and is expected to reach US$ 772.05 million by 2030, registering a CAGR of 4.7% from 2022 to 2030. High focus on employer-sponsored medical health coverage and incorporation of robotics for enhancing occupational health are among the critical factors attributed to the Asia Pacific occupational health market expansion.
Health coverage provided by employers plays a vital role in the recruitment and retention process of any organization. Employer-sponsored health insurance (ESHI) is becoming unaffordable for family businesses. Moreover, worker premiums have risen rapidly in the past few years. Nevertheless, supportive policy provisions limit the rise in premium amounts designated to employees, thereby improving the affordability of job-based insurance for employees. Also, workable and affordable policies assist healthcare systems by safeguarding insurers from high costs and curbing the unhealthy practices of dominant health systems imposing high prices. Curbing excessive prices of job-based insurance would result in higher wages and job growth, lower premiums, and cost-sharing for families, reducing the burden on taxpayers. This factor further contributes to greater access to more affordable healthcare worldwide, thereby favoring the growth of the Asia Pacific occupational health market.
On the contrary, health-associated risks at workplaces hampers the growth of Asia Pacific occupational health market.
Based on offering, the Asia Pacific occupational health market is segmented into services, solutions, and product. The services segment held 81.6% share of the Asia Pacific occupational health market in 2022, amassing US$ 436.47 million. It is projected to garner US$ 638.92 million by 2030 to expand at 4.9% CAGR during 2022–2030. The services is further sub segmented into face to face, telephone or video, digital online platform/mails via client portal, and mobile screening units.
By category, the Asia Pacific occupational health market is segmented into physical and environmental, chemicals, vaccination and immunization, safety, ergonomic, biological, and others. The physical and environmental segment held 32.5% share of the Asia Pacific occupational health market in 2022, amassing US$ 173.58 million. It is projected to garner US$ 239.60 million by 2030 to expand at 4.1% CAGR during 2022–2030. The physical and environmental segment is sub segmented into loud noise and hearing testing, prolonged exposure to sunlight, extreme temperatures, pulmonary function testing, radiation, respirator fit testing, tuberculosis skin and quantiferon testing, vibration and shocks, and others. The chemicals segment is sub segmented into environmental smoke and asbestosis, pesticides, carbon monoxide, flammable liquids, acids, cleaning products, and others. The vaccination and immunizations segment is sub segmented into influenza (seasonal), hepatitis A and B, varicella (chicken pox), MMR (Measles/Mumps/Rubella), TDAP (Tetnus/Diptheria/Pertussis), and others. The ergonomic segment is sub segmented into work organization hazards, drug and alcohol, sexual harassment, workplace violence, discrimination, lack of respect, and others. The safety segment is sub segmented into slips on floor, heights and stairs, machinery with moving parts, confined spaces, steep stairs, and others. The biological segment is sub segmented into blood, fungi and mold, viruses, insect bites, animal droppings, and others.
By employee type, the Asia Pacific occupational health market is segmented into remote, hybrid, and physical presence. The remote segment held 47.7% share of the Asia Pacific occupational health market in 2022, amassing US$ 254.80 million. It is projected to garner US$ 375.34 million by 2030 to expand at 5.0% CAGR during 2022–2030.
By site location, the Asia Pacific occupational health market is segmented into off-site, on-site, and shared-site. The off-site segment held 49.9% share of the Asia Pacific occupational health market in 2022, amassing US$ 266.97 million. It is projected to garner US$ 400.91 million by 2030 to expand at 5.2% CAGR during 2022–2030.
By industries, the Asia Pacific occupational health market is segmented into automobile, chemical, engineering, government (including federal), manufacturing, mining, oil & gas, pharmaceutical, ports, and others. The government (including federal) segment held 39.6% share of the Asia Pacific occupational health market in 2022, amassing US$ 211.97 million. It is projected to garner US$ 304.89 million by 2030 to expand at 4.6% CAGR during 2022–2030.
By type, the Asia Pacific occupational health market is segmented into physical wellbeing and social & mental wellbeing. The physical wellbeing segment held 70.6% share of the Asia Pacific occupational health market in 2022, amassing US$ 377.56 million. It is projected to garner US$ 529.87 million by 2030 to expand at 4.3% CAGR during 2022–2030.
Based on country, the Asia Pacific occupational health market is segmented into China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific. China held 29.3% share of Asia Pacific occupational health market in 2022, amassing US$ 156.38 million. It is projected to garner US$ 222.74 million by 2030 to expand at 4.5% CAGR during 2022–2030.
Key players operating in the Asia Pacific occupational health market are Axa SA, UL Solutions Inc, Cority Software Inc, and Sapphire Health Solutions, among others.
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